Walgreens - Burlington, VT

514 Farrell St Burlington , VT 05401

Walgreens - Burlington, VT - Retail for sale

Download Offering Memorandum


Venture Retail Partners (VRP) is pleased to offer for sale the fee simple interest in a freestanding Walgreens (the Property or Asset) located in Burlington, VT, just along the border of Vermont and New York. The Property is subject to an absolute triple net lease with approximately 17.5 years of primary term remaining with zero landlord obligations. Walgreens (the Tenant) is a publicly traded pharmacy retailer with over 8,100 locations and an investment-grade credit rating (S&P BBB). The Asset benefits from a high-visibility location, just 0.25 miles of Interstate 189 within Burlingtons South End retail trade area. The Property's strong tenancy, absolute-NNN lease term with approximately 17.5 years remaining, and ideal location make this a valuable net lease investment opportunity.

Investment Highlights

• Investment grade tenancy guarantee from Walgreens Boots Alliance holding a rating of BBB by Standard & Poor’s
• 0.25 miles away from Interstate 189’s origination and termination resulting in heavy traffic flow to the Walgreens property
• Extremely high barriers to entry market and part of the South Burlington PUD
• Adjacent to multi-family and seniors’ housing developments; only 2.3% multi-family vacancy by the Walgreens
• Over 1.5 million square feet of retail and office inventory in a 1-mile radius; very minimal availability; Burton’s headquarters is 0.75 miles away from property
• Dense demographics and 30% of the 1-mile population radius makes over $100,000
• No nearby competition with other free-standing, national pharmacies
• Significant intrinsic real estate value
Property Type Retail
Tenure Type Sale / Purchase
Property Address 514 Farrell St, Burlington, VT 05401-6907
Land In Acres 1.16
Building Size 22,527  ft2
Price $11,000,000
Cap Rate 6.10%
Current NOI $671,000.00
Tenant's Name Walgreens Company
Lease Type NNN
Annual Rent $671,000.00
Lease Expiration Date 01/31/2036
Remaining Term 16.6Yrs

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